Demands on companies for better disclosure of tax information are increasing. Australia is the latest jurisdiction to up the ante by looking to force the release of corporate tax returns. Country-by-country reporting (CBCR) is also gaining more traction (the standard will be imposed on EU banks from 2014). But there appears to be a worrying disconnect in that similar levels of transparency are not being demanded, nor expected, of tax authorities. Matthew Gilleard looks at whether a shift away from the one-sided approach to tax transparency is on the horizon, or whether the “do as I say, not as I do” mantra will continue to apply.
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Luis Coronado suggests companies should embrace technology to assist with TP data reporting, as the ‘big four’ firm unveils a TP survey of over 1,000 professionals
KPMG Netherlands’ former head of assurance also received a permanent bar and $150,000 fine; in other news, asset management firm BlackRock lost a $13.5bn UK tax appeal